Consider the following statements 1 A non Banking Financial Company NBFC is a company...........

Economic Affairs Non Banking Financial Companies (NBFCs)

Consider the following statements

1. A non-Banking Financial Company (NBFC) is a company registered under the Companies Act, 1956 and is engaged in the business of loans and advances, acquisition of shares/stock/bonds/debentures.

2. NBFC also includes any institution whose principal business is that of agriculture activity industrial activity, sale/purchase/ construction of immovable property

Which of the above statements is/are correct?

1 only

2 only

Both

None

छोटे Courses बड़े Results

Master Non Banking Financial Companies (NBFCs)

Prepare through Micro-courses

Try Now

Explanation:

A Non Banking Financial Company (NBFC) is a company registered under the Companies Act, 1956 of India, engaged in the business of loans and advances, acquisition of shares, stock, bonds hire-purchase, insurance business or chit business but does not include any institution whose principal business includes agriculture, industrial activity or the sale, purchase or construction of immovable property.

The working and operations of NBFCs are regulated by the Reserve Bank of India (RBI) within the framework of the Reserve Bank of India Act, 1934 (Chapter III B) and the directions issued by it.